Wedbush Reiterates Neutral Rating for Safehold (NYSE:SAFE)

Wedbush reissued their neutral rating on shares of Safehold (NYSE:SAFE) in a report released on Friday,Benzinga reports. The brokerage currently has a $19.00 price target on the stock, down from their previous price target of $20.00.

SAFE has been the topic of a number of other research reports. The Goldman Sachs Group cut their price target on shares of Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. JMP Securities restated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Thursday. Royal Bank of Canada boosted their target price on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Mizuho lifted their target price on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley downgraded shares of Safehold from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $30.00 to $19.00 in a report on Wednesday, January 15th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.56.

Safehold Trading Down 3.2 %

SAFE stock opened at $17.29 on Friday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 10.17 and a beta of 1.66. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. Safehold has a one year low of $15.55 and a one year high of $28.80. The company has a fifty day moving average price of $18.33 and a two-hundred day moving average price of $21.79.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Safehold had a net margin of 32.08% and a return on equity of 4.79%. During the same quarter last year, the business posted $0.36 EPS. Equities analysts anticipate that Safehold will post 1.57 EPS for the current year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.177 per share. The ex-dividend date was Monday, December 30th. This represents a $0.71 annualized dividend and a yield of 4.09%. Safehold’s dividend payout ratio (DPR) is 41.76%.

Hedge Funds Weigh In On Safehold

Institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in shares of Safehold by 268.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock worth $26,000 after purchasing an additional 1,020 shares in the last quarter. GAMMA Investing LLC lifted its stake in Safehold by 108.7% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after purchasing an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Safehold by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after purchasing an additional 471 shares in the last quarter. KBC Group NV grew its stake in Safehold by 79.3% during the 3rd quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after purchasing an additional 1,275 shares in the last quarter. Finally, Vestcor Inc acquired a new stake in shares of Safehold in the 3rd quarter valued at $110,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk.